Sri Lanka’s tax collection up by Rs100bn in 1H 2016

Finance-ministry

Aug 18, 2016 (LBO) – Tax revenue in Sri Lanka’s government has increased by 100 billion rupees for the first half of this year, co-cabinet spokesman Minister Gayantha Karunathilaka said.

Karunathilaka said Finance Minister has informed the cabinet that the total tax revenue has increased by about 20 percent in the first six months.

Tax collection at the Customs Department alone has increased significantly by 40 percent, Karunathilaka further said.

“The reason behind the increased revenue especially in customs is that the goods like Ethanol is not coming out now without taxes,” Minister Rajitha Senarathne said.

Sri Lanka’s Superior Courts recently halted a VAT increase saying the increase is yet to get the parliamentary approval raising concerns over revised taxes introduced after 2016 budget proposals.